Do you need palm oil? Would you like to analyze the evolution of your prices using a graph? Well, we have the ideal tool for you!
There are different tropical oil palm plants, according to the different species of the Elaeis genus (E. guineensis and E. oleIfera). Palm oil is obtained from the fruit of the plant. This fruit is made up of the pulp or fleshy part on the outside, called the mesocarp, and a seed inside. Both parts of the fruit have a high concentration of fat and are used to obtain oil.
Palm oil is widely used in the world for different applications due to its availability and versatility conditions. The production of palm oil is cheaper than that of its possible substitutes, soybean and coconut oil, or that of olive oil or sunflower oil, which is why it is used in processed and ultra-processed foods with vegetable oils. In addition, due to the amount of saturated and unsaturated fats it contains, it is a semi-solid fat at room temperature that contributes significantly to the smoothness of products, and makes it used in cocoa creams and margarines.
The food use of palm oil is not the only one, as it is also used in the cosmetics industry, in cleaning products and as a biofuel. Being so important due to its number of uses, many industries decide to invest in it. However, they must take into account its price and be able to compare it with other types of oil. For this, you will need to use a chart and Commodities-API is the tool that will help you to create them.
We strongly recommend that you use the Commodities-API, one of the most important commodities rates tools, created to save you time and above all, money. Every minute, this API receives price information from more than 15 trusted data sources, such as banks and financial institutions. In this way, you can be 100% sure that the information is 100% true. Also, this API can deliver real-time commodity data with an accuracy of 2 decimal points and a frequency of up to 60 seconds.
To acquire the Palm Oil prices and apply that data in charts, follow these steps:
1- Visit www.commodities-API.com and generate the API key.
2- Register and choose an available plan.
3- Find the palm oil and currency symbols you want to use.
4- After you’ve settled on them, make the API call.
5- After you’ve obtained the API, navigate to “charts” and select how you want them to be presented.
Doubts? Questions? Use the virtual chat to communicate with a Commodities-API advisor.
Also published on Medium.